Telvent
TLVT
a provider of IT services, agreed to be acquired by France’s Schneider Electric SA at a price of $40 a share, implying a takeover premium of about 16% over the Tuesday closing price. A tender offer is scheduled to commence in mid-June.

On Wednesday’s earnings calendar, Jos. A. Bank
JOSB
reported a first-quarter net profit of $17.8 million, or 64 cents a share, up from $15.8 million, or 57 cents, earned in the same period a year earlier. Sales in the quarter ended April 30 rose 8.5% to $193.3 million; comparable store sales were up 0.1%. Analysts polled by FactSet Research had been expecting earnings of 65 cents a share on sales of $194.8 million.

On deck, deep discounter Dollar General Corp.
DG, -0.14%
is expected to report first-quarter earnings of 50 cents a share, according to the FactSet-compiled consensus.

Late Tuesday, a media report said that Yahoo Inc.
YHOO, +0.72%
had reached an agreement with China’s Alibaba Group to resolve the ownership of Alipay.

Lionsgate Entertainment Corp.
LGF, +0.00%
reported a fourth-quarter profit of $46.1 million, or 33 cents a share, a reversal from the studio’s loss of $22.2 million, or 19 cents a share, in the final three months of fiscal 2010. Quarterly revenue fell 6% to $377 million.

Phillips-Van Heusen Corp.
PVH, -1.01%
reported a first-quarter profit of $57.7 million, or 79 cents a share, powered by growth in its Calvin Klein and Tommy Hilfiger brands. The apparel manufacturer had run a year-ago loss of $27.6 million, or 53 cents a share. Quarterly revenue more than doubled to $1.37 billion from $619 million a year earlier. The company also revised higher its full-year targets for revenue and adjusted earnings.

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